As you read this, Intuit should be completing its acquisition of Mint.com. The online provider of personal finance tools will join Quicken at the end of this year to provide consumers with even more options when it comes to managing their finances.

News of an acquisition often has a polarizing effect on people: Some love the idea and some don’t. There are quite a few loyal Mint.com fans who are nervous about this deal and what it will mean for the site on which they’ve come to depend. One of the biggest questions on these people’s minds is whether Mint.com will remain free. Another is how much Intuit will change Mint.com.

When signing up for a Mint.com account, users don’t even have to enter their name.

Intuit founder Scott Cook recently assured consumers that Mint.com would indeed remain free. He also stressed the point that Intuit does not want to change Mint.com to become like Quicken. In fact, Mint.com’s management team will remain intact, ensuring that the company will run much the way it did before the acquisition. Recognizing a need for a new approach for a younger generation, Cook referred to Quicken as a 20^th century product in a 21^st century world. Mint.com’s fresh and innovative approach to money management will be a good thing for Quicken, just as the experience and resources available at Intuit will be a valuable asset for Mint.com.

If you’re a devoted Quicken user but don’t know much about Mint.com, you’re likely either happy about the merger or relatively indifferent. Getting to know the newest member of the Intuit family is a great place to start, no matter your opinion. We’ll help you get better acquainted.

Meet Mint.com

Perhaps it was only a matter of time before the nation’s leading personal finance software publisher teamed up with the nation’s leading online personal financial service. With more than 1 million users, Mint.com reports that it’s “tracking $175 billion in transactions, $47 billion in assets and has identified more than $300 million in potential savings for its users.” And it’s all free.

One of the keys to Mint.com’s success is its ease of use. Users can literally be up and running with the program in less than five minutes, with no need to enter reams of personal or financial data. After entering an email address, ZIP code, and password, the account is created; Mint.com handles everything from there. The service connects with more than 7,500 bank, credit card, and investment accounts daily, meaning users don’t ever have to sync their data.

Of course, any financial company worth its salt must consider security job No.1. Mint.com uses several techniques to ensure that its users’ data is always secure. The company’s 128-bit SSL (Secure Sockets Layer) encryption is the same level of security that banks use, and the site’s read-only status makes it impossible to transfer money in or out. In addition, signing up for the service does not require that you give your name or any personally identifiable information, and the company will notify you of any possible fraudulent activity on your account.

Get Started

Signing up for the service is extremely simple. On Mint.com’s home page, click the Free! Get Started Here button. Then you’ll enter your email address and ZIP code and designate a password. Now you’re ready to add a bank account, an easy process: First, search for your bank. Then enter the username and password associated with your online bank account. Click the Add It button and watch as Mint.com connects with your bank account.

Once you’ve set up your account, you can immediately begin taking advantage of Mint.com’s offerings. The site’s software helps you see where you’re spending your money, understand how your investments are doing, and begin using a budget. The site also looks at your spending habits and helps determine ways to save money (through sponsored offers from financial institutions).

There are many more features and offerings that make Mint.com’s approach unique. Whether you’re searching for a more affordable method for tracking your money or just interested in the latest addition to the Quicken team, Mint.com is worth a look. Next month, we’ll explore more of what the site has to offer.

by Jennie Schlueter